Shiba Inu (SHIB), and the larger crypto market, had taken a beating yesterday. The plummet is attributed to the SEC filing a lawsuit against crypto exchanges Binance and Coinbase. However, the markets seem to be turning around. SHIB has risen 0.5% in the last 24 hours, while Bitcoin (BTC) has risen 4.6% in the same time frame. Nonetheless, SHIB fans and users are hopeful that the Shibarium launch will make up for the losses of this year and the last when it launches.
According to Shiba Inu (SHIB) lead developer Shytoshi Kusama, SHIB’s layer-2 protocol, Shibarium, will launch sometime in June or August. Even popular SHIB influencer “Lucie” has said that the upcoming network could go live sometime in Q2 or Q3. However, Lucie did say that the launch could be delayed if there were some issues with testing. So far everything seems to be going smoothly for the team.
However, how high can SHIB go with the launch of Shibarium? Will the popular dog-themed crypto delete any more zeros? Will it reach its goal of $0.01?
Can Shiba Inu reach $0.01 with the Shibarium launch?
A rise in the price of Shiba Inu could be one of the perks of the Shibarium mainnet. Many expect the adoption of the network to increase and result in a rise in demand for the Shiba Inu memecoin. If that becomes the case, Shiba Inu could increase its price value slightly or even significantly over time.
However, reaching $0.01 would mean a gain of 123662.3%, which is very unlikely in the current market scenario. However, that does not mean that SHIB will not enjoy any price increases due to the release. SHIB may very well lose a few zeros with the Shibarium launch. Moreover, once the crypto markets stabilize, SHIB could see more adoption, as it will have its own blockchain, and thereby additional price gains.
At press time, SHIB was trading at $0.00000808, down by 0.2% in the last hour.
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